on 05-15-2006 9:56 AM
Hi all,
I have configured EWT Codes and Tax Types for Tax, Surchatrge and Ed.Cess for Payment and invoice separately.
Tax Type ->Tax Code ->Rate-> Tax Base-> Description
I1 -> I1 -> 2 ->Invoice Amount ->WT Cont Inv
I2-> I2-> 10-> Tax-> Surcharge on WT for Contractors Inv
I3-> I3-> 2-> Tax + Surcharge ->Ed Cess on WT for Contractors Inv
P1-> P1-> 2-> Invoice Amount-> WT for Contractors Pmt
P2-> P2-> 10-> Tax-> Surcharge on WT for Contractors Pmt
P3-> P3-> 2 ->Tax + Surcharge-> Ed Cess on WT for Contractors Pmt
I have populated the whole in the vendor master. when posting an invoice I am able to get the Tax calculated based on invoice type codes, and when I am processing automatic pmt program, Tax is again calculated as above
Can any one guide , why this is occuring?
Regards,
Srinivas
Hi all,
I have posted this issue. Can any one including Mr. Avinash Humbrey can respond? The matter is most urgent. As per the advise of Mr. Avinash withholding tax types for Invoice and Payments are not to be populated in the same vendor master. Then, how the payment EWT can be arrived at? How to generate entries for that?
Pls clarify
Srinivas Mannava
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Hi
We can change the withholding tax type in the vendor master record before making the any transaction such like down payment to vendor.
As per Indian Law, TDS has to be deducted either on the date of invoice get credited or payment date whichever is earlier.
So, if u have assign invoice withholding tax type in vendor master record and u r making down payment to vendor and u want to deduct withholding tax then First u have to change vendor master record in withholding tax type from invoice to payment type.
If any clarification is required my email id a_humbrey@yahoo.com
Avinash
Hi,
Vendor master (any master reocord) is not changed frequently, so you have to assign tax types Invoice & Payment to vendor. Moreover, if you assign / change a new code, you will have to execute a program (else system willnot allow payment / clearing etc of earlier documents). So based on this, system deducts TDS. When you are posting an invoice, go to Tab - Withholding Tax and remove (delete) not required W/H tax types & codes (in this case Payment related Tax codes & tax types). Now for this document, system will deduct TDS only on invoice and not again when you make payment. Hope this sufficies.
Best Wishes.
Vijaya
Hi
check whether u have assigned both withholding tax type (payment and invoice)to the vendor. Say I1 is your invoice withholding tax type and P1 is your payment withholding tax type. So, do not assign both I1 and P1 at the same to Vendor master.
Avinash
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